Prism Methodology and Economic Sustainability of Selected Construction Firms in Lagos State

Abstract

The study was conducted to assess the impact of prism project management methodology on economy sustainability of construction firms in Lagos state. Survey research design was adopted for this study with the aids of structured questionnaire. Data were collected from a proportional stratified sample of 57 construction firms and 246 clients of those firms respectively. These firms were registered with Lagos Chamber of Commerce. The data collected instrument was validated using both content and construct validity, while the reliability of the instrument was determined using Cronbach Alpha which was achieved at α = 0.8. Multiple Regression analysis was used for the data analysis. The findings revealed that, there was a significant relationship (R2 = 0.580; p<0.05) between commitment and accountability, ethics and decision-making power and integration and transparency and economic sustainability of construction firms. From the findings of the study, it was also discovered that prism project methodology could help to overcome budget, time, stakeholder and contracting challenges that could allow construction firms to suffer and record significant economic losses. The study recommended among others that construction firms should align PRISM methodology to core strategy of their firms in order to enhance their economy sustainability. The study has been able to establish the significant relationship between prism methodology and economic sustainability of construction firms in Lagos State and further show the extent of contribution of the independent variable to the dependent variable